H1 2021 Revenue grew 472% year-over-year
Global growth to become one of the largest Value-Based Care
businesses with over 200,000 Members1
U.S. grew from its January 2020
launch to over 3 million covered lives including over 80,000 VBC
lives
Alkuri Global Acquisition Corp. and Babylon expect to close the transaction
mid-October 2021
Babylon reaffirms 2021 and
2022 growth guidance
PALO ALTO, Calif. and LONDON, Sept. 15,
2021 /PRNewswire/ -- Babylon Holdings Limited
("Babylon"), a world leading
company reengineering how people engage with their health at every
step of the care continuum, today announced its financial and
operating results for the six months ended June 30, 2021.
Ali Parsa, CEO and Founder of
Babylon said: "Babylon again passed many milestones in the
first half of 2021, growing revenue by 472% year on year. We
continued to execute, putting us amongst the fastest growing
companies worldwide, including in the US, where since our initial
launch last year, we gained millions of covered members and, as of
today, over 100,000 value-based lives."
"But I believe we have not even really begun. We are on the
verge of a fundamental overhaul in the global system of delivery of
healthcare, with finally everything that is solid melting into air
as it did years ago with other sectors like retail, finance and
information. Out of this the healthcare sector will also emerge
some of the world's most valuable and impactful companies by
creating a more scalable, accessible and affordable value
proposition worldwide."
"We have the determination and the confidence to focus on this
long-term goal, and not be distracted by short term glory.
Babylon has one of the largest and
most diverse collections of scientists, engineers and clinicians
working together across the world, led by an accomplished
management team with a proven track record, addressing
affordability and accessibility of healthcare. We will continue to
invest to create a powerful and unique combination of our
digital-first, AI-enabled, comprehensive clinical services that
will in time transform every touch point of the care continuum. I
couldn't be more proud of our Babylonian team and we look at these
results that were delivered by every Babylonian as just a
confirmation that we are on the right path," said Parsa.
Financial Results and Operating Metrics Summary
Improvement in the following financial and operational metrics
for the six months ended June 30,
2021, compared to the six months ended June 30, 2020:
- Revenue totaled $128.8 million
compared to $22.5 million, an
increase of 472% year over year
- Net loss improved to $75.7 million compared to a net loss
of $90.8 million
- Adjusted EBITDA loss improved to $54.2 million
compared to a loss of $76.2
million
- VBC member count in the U.S. was zero on June 30, 2020 versus ~84,000 on June 30, 2021
- Coverage of residents under UK Babylon GP at Hand grew to over
102,000 on June 30, 2021, now largest
GP practice in UK
- In Rwanda, appointment volumes
tripled from ~44,000 in June 2020 to
~132,000 in June 2021
- Users2 increased 55% year-over-year to 8.2 million
on June 30, 2021
H1 2021 and Recent Highlights
- On June 3, 2021, Babylon entered into a definitive merger
agreement with Alkuri Global Acquisition Corp. (NASDAQ: KURI), a
special purpose acquisition company; this combination is further
supported by a $230 million PIPE –
funded over 85% from new, institutional investors
- In January 2021, TELUS acquired
Babylon's Canadian venture and
concurrently signed a long-term licensing deal to continue offering
Babylon's innovative AI-driven
digital health tools to TELUS' customers. This is Babylon's first long-term license of
its digital platform including its telehealth capabilities and
AI-tools together.
- In June 2021, Babylon entered into an agreement to make its
Babylon 360 solution available to
~15,000 members across New York
state commencing on July 1,
2021, and combined with more members in Missouri and California, total VBC Members in the U.S. grew
to over 100,000
- Publication of peer-reviewed research in July 2021 affirmed that Babylon's digital-first model in the UK
delivered 15% - 35% lower hospital care costs than the regional
average3 – confirming Babylon's proprietary model of care can
produce meaningful cost savings
- In August 2021, Babylon announced that it was extending its
partnership with the Royal Wolverhampton NHS Trust to introduce an
integrated and accessible digital-first healthcare experience to be
made available to ~55,000 Wolverhampton residents in October 2021
- Babylon completed preparation
for participation commencing January
2022 in one of the innovative VBC programs sponsored by
CMS4 and CMMI5 and is awaiting finalization
of CMS processes and approvals
- Babylon accelerated its rate
of product revisions and releases 4-fold, putting it in a category
with other world-class technology companies
1 Including GP at Hand members
2 Number of members who have joined our digital
platform and complete all mandatory fields on the digital
platform
3 Commissioned by Babylon Holdings and published in
Journal of Medical Internet Research. Study compared spending per
patient for Babylon GP at Hand to the regional average spending
over a two-year period from April 1,
2018 to March 31, 2019 in
North West London
4 Centers for Medicare & Medicaid Services
5 Center for Medicare & Medicaid Innovation
Leadership Development
Babylon has made substantial
investment in its leadership team over the past year. These
additions include:
- Paul-Henri Ferrand, former
President at Google Cloud and Dell, North
America as the company's Chief Business Officer (CBO);
- Steven Davis, former SVP and GM
of AI and data at Expedia as the Chief Technology Officer
(CTO);
- Stacy Saal, former GM/COO of
Prime Air at Amazon as the Chief Operating Officer (COO);
- Yon Nuta, former Chief Product
Officer at Gaia, Inc as the Chief Product Officer (CPO);
- Samira Lowman, former VP,
Organization and Talent Acquisition & Development at General
Electric as Chief People Officer (CPO); and
- Darshak Sanghavi, former Chief
Medical Officer at United Healthcare and Optum as Global Chief
Medical Officer (CMO).
Balance Sheet
As of June 30, 2021, the Company
had cash and cash equivalents of $42.4
million.
In August 2021, Babylon completed a debt offering of
$50 million which is due to be repaid
at the completion of the transaction with Alkuri Global Acquisition
Corp.
Financial Outlook
"We're pleased with our first half results and strong execution
of our growth plan, and we remain on track to deliver our 2021
revenue and adjusted EBITDA expectations," said Charlie Steel, Chief Financial Officer of
Babylon. "Our business and
operational momentum continue to accelerate as we enter the second
half, and our world class team has us well positioned to further
our track record of robust growth to achieve our revenue growth and
objectives for 2022 and beyond."
FY 2021 Financial Guidance
For the twelve months ended December 31,
2021, the Company reiterates its previously
provided outlook and continues to expect:
- Revenue of ~$321 million
- Adjusted EBITDA of ~ ($140)
million
These statements are forward-looking and actual results may
differ materially. Please refer to the Forward-Looking Statements
disclaimer below for information on the factors that could cause
our actual results to differ materially from these forward-looking
statements.
Upon the closing of the definitive merger agreement with Alkuri
Global Acquisition Corp., which is expected in October 2021, subject to receipt of Alkuri
stockholder approval and the satisfaction of other customary
closing conditions, the new company will become Babylon Holdings
Limited and will be listed on the New York Stock Exchange under the
ticker symbol BBLN. The transaction reflects an initial pro forma
equity value of approximately $4.2
billion and is expected to deliver up to $575 million of gross proceeds to fund
Babylon's pro forma balance sheet,
including the contribution of up to $345
million of cash held in Alkuri Global's trust account
assuming no redemptions. The combination is further supported by a
$230 million PIPE - funded over 85%
from new, institutional investors.
A reconciliation of International Financial Reporting Standards
("IFRS") and non-IFRS results has been provided in the accompanying
tables. An explanation of these measures is included in the
supplemental tables to this press release.
Accompanying supplemental information will be posted to the
Investor Relations section of Babylon's web site at
https://www.babylonhealth.com/us/investor-relations.
About Babylon
Babylon is a world leading,
digital-first, value-based care company whose mission is to make
high-quality healthcare accessible and affordable for everyone on
Earth.
Babylon is re-engineering
healthcare, shifting the focus from sick care to preventative
healthcare so that patients experience better health, and reduced
costs. This is achieved by leveraging a highly scalable,
digital-first platform combined with high quality, virtual clinical
operations to provide integrated, personalized healthcare. We
endeavor to support patients' health needs, all from their devices,
with the aim to promote longer and healthier lives. When sick,
Babylon provides assistance to
navigate the health system, connecting patients digitally to the
right clinician 24/7, at no additional cost.
Founded in 2013, we have since delivered millions of clinical
consultations and AI interactions, with c.2m clinical consultations
and c.3.9m AI interactions in 2020
alone. We work with governments, health providers and insurers
across the globe, and support healthcare facilities from small
local practices to large hospitals. For more information, please
visit www.babylonhealth.com/us.
Table
1
|
Babylon Holdings
Limited
|
Consolidated
Statement of Profit and Loss and Other Comprehensive
Loss
|
(In thousands,
except per share amounts, unaudited)
|
|
|
|
For the Six
Months Ended June 30,
|
|
2021
|
|
2020
|
Revenue
|
$ 128,771
|
|
$ 22,503
|
Cost of care
delivery
|
(92,137)
|
|
(18,820)
|
Platform &
application expenses
|
|
(21,377)
|
|
(12,898)
|
Research &
development expenses
|
(17,201)
|
|
(20,881)
|
Sales, general
& administrative expenses
|
(76,606)
|
|
(52,762)
|
Operating
loss
|
(78,550)
|
|
(82,858)
|
Finance
costs
|
(2,243)
|
|
(2,569)
|
Finance
income
|
28
|
|
6
|
Exchange
(loss)
|
(91)
|
|
(2,146)
|
Net finance
(expense)
|
(2,306)
|
|
(4,709)
|
|
|
|
|
Gain on sale of
subsidiary
|
3,917
|
|
-
|
Share of loss
of equity-accounted investees
|
(1,276)
|
|
(309)
|
Loss before
taxation
|
(78,215)
|
|
(87,876)
|
Tax benefit /
(provision)
|
2,493
|
|
(2,937)
|
Loss for the
period
|
(75,722)
|
|
(90,813)
|
|
|
|
|
Other
comprehensive loss
|
|
|
|
Items that
may be reclassified subsequently to profit or
loss:
|
|
|
|
Currency
translation differences
|
(67)
|
|
1,530
|
Other
comprehensive (loss) / gain for the period, net of income
tax
|
(67)
|
|
1,530
|
Total
comprehensive loss for the period
|
(75,789)
|
|
(89,283)
|
|
|
|
|
Loss
attributable to:
|
|
|
|
Equity holders
of the parent
|
(74,907)
|
|
(89,984)
|
Non-controlling
interest
|
(815)
|
|
(829)
|
|
(75,722)
|
|
(90,813)
|
Total
comprehensive loss attributable to:
|
|
|
|
Equity holders
of the parent
|
(74,974)
|
|
(88,454)
|
Non-controlling
interest
|
(815)
|
|
(829)
|
|
|
$
(75,789)
|
|
$
(89,283)
|
|
|
|
|
|
Net loss per
share, Basic and Diluted
|
$
(0.09)
|
|
$
(0.11)
|
Table
2
|
Babylon Holdings
Limited
|
Consolidated
Statement of Cash Flows
|
(In thousands,
unaudited)
|
|
|
|
|
|
|
For the Six
Months Ended June 30,
|
|
2021
|
|
2020
|
Cash flows
from operating activities
|
|
|
|
Loss for the
period
|
$ (75,722)
|
|
$ (90,813)
|
Adjustments
for:
|
|
|
|
Finance
costs
|
2,243
|
|
2,569
|
Finance
income
|
(28)
|
|
(6)
|
Depreciation
and amortization
|
13,322
|
|
6,459
|
Share-based
compensation
|
12,344
|
|
433
|
Taxation
|
(2,493)
|
|
2,937
|
Exchange
loss
|
91
|
|
2,146
|
Gain on
disposal of subsidiary
|
(3,917)
|
|
-
|
Impairment
expense
|
-
|
|
32
|
Share of net
loss of associates and joint ventures
|
1,276
|
|
309
|
|
(52,884)
|
|
(75,934)
|
Working
capital adjustments:
|
|
|
|
(Increase) in
trade and other receivables
|
(12,414)
|
|
(8,291)
|
Increase/(Decrease) in trade and other
payables
|
43,604
|
|
(3,166)
|
Decrease in
assets/liabilities held for sale
|
1,460
|
|
-
|
Decrease in
other assets/liabilities
|
768
|
|
-
|
Net cash
used in operating activities
|
(19,466)
|
|
(87,391)
|
|
|
|
|
Cash flows
from investing activities
|
|
|
|
Capital
expenditure
|
(2,444)
|
|
(460)
|
Interest
received
|
7
|
|
6
|
Development
costs capitalized
|
(16,254)
|
|
(18,138)
|
Acquisition of
subsidiary, net of cash acquired
|
(13,835)
|
|
-
|
Proceeds from
sale of investment in subsidiary
|
2,213
|
|
-
|
Purchase of
shares in associates and joint ventures
|
(5,000)
|
|
(5,000)
|
Net cash
used in investing activities
|
(35,313)
|
|
(23,592)
|
|
|
|
|
Cash flows
from financing activities
|
|
|
|
Proceeds from
other loans
|
116
|
|
357
|
Payments from
exercise of share options
|
(482)
|
|
-
|
Net proceeds
from issue of share capital
|
-
|
|
1
|
Fees directly
attributable to equity raise
|
-
|
|
(10,245)
|
Principle
payments on leases
|
(2,293)
|
|
(782)
|
Interest
paid
|
(1,826)
|
|
(2,338)
|
Net cash
outflow from financing activities
|
(4,485)
|
|
(13,007)
|
Net (decrease)
in cash and cash equivalents
|
(59,264)
|
|
(123,990)
|
Cash and cash
equivalents at January 1
|
101,757
|
|
214,888
|
Effect of
movements in exchange rate on cash held
|
(112)
|
|
(702)
|
Cash and cash
equivalents at June 30
|
$
42,381
|
|
$
90,196
|
Table
3
|
Babylon Holdings
Limited
|
Consolidated
Statement of Financial Position
|
(In thousands,
unaudited)
|
|
|
June
30,
|
|
December
31,
|
|
2021
|
|
2020
|
ASSETS
|
|
|
|
Non-current
assets
|
|
|
|
Right-of-use
assets
|
$
10,135
|
|
$
2572
|
Property, plant
and equipment
|
2,879
|
|
1,334
|
Investments in
associates
|
12,600
|
|
8,876
|
Goodwill
|
31,303
|
|
17,832
|
Other
intangible assets
|
102,331
|
|
78,853
|
Total
non-current assets
|
159,248
|
|
109,467
|
Current
assets
|
|
|
|
Right-of-use
assets
|
3,487
|
|
1,942
|
Trade and other
receivables
|
28,218
|
|
13,525
|
Prepayments and
contract assets
|
9,253
|
|
8,841
|
Cash and cash
equivalents
|
42,381
|
|
101,757
|
Assets held for
sale
|
-
|
|
3,282
|
Total
current assets
|
83,339
|
|
129,347
|
Total
assets
|
$
242,587
|
|
$
238,814
|
|
|
|
|
EQUITY AND
LIABILITIES
|
|
|
|
Ordinary share
capital
|
$
10
|
|
$
10
|
Preference
share capital
|
4
|
|
3
|
Share
premium
|
557,569
|
|
485,221
|
Share-based
payment reserve
|
45,286
|
|
32,185
|
Retained
earnings
|
(544,411)
|
|
(469,504)
|
Foreign
currency translation reserve
|
1,608
|
|
1,675
|
Total
capital and reserves
|
60,066
|
|
49,590
|
Non-controlling interests
|
(2,046)
|
|
(1,231)
|
Total
equity
|
58,020
|
|
48,359
|
|
|
|
|
LIABILITIES
|
|
|
|
Non-current
liabilities
|
|
|
|
Contract
liabilities
|
81,982
|
|
57,274
|
Deferred grant
income – tax credit
|
6,340
|
|
7,488
|
Lease
liabilities
|
10,815
|
|
2,011
|
Deferred tax
liability
|
768
|
|
-
|
Total
non-current liabilities
|
99,905
|
|
66,773
|
Current
liabilities
|
|
|
|
Trade and other
payables
|
26,231
|
|
11,635
|
Accruals and
provisions
|
31,574
|
|
18,636
|
Contract
liabilities
|
23,136
|
|
18,744
|
Deferred grant
income – tax credit
|
1,264
|
|
-
|
Lease
liabilities
|
1,984
|
|
2,488
|
Loans and
borrowings
|
473
|
|
70,357
|
Liabilities
directly associated with the assets held for sale
|
-
|
|
1,822
|
Total
current liabilities
|
84,662
|
|
123,682
|
Total
liabilities
|
184,567
|
|
190,455
|
Total
liabilities and equity
|
$
242,587
|
|
$
238,814
|
EBITDA is defined as profit (loss), adjusted for depreciation,
amortization, net finance income (costs), and income taxes.
Adjusted EBITDA is defined as profit (loss), adjusted for
depreciation, amortization, net finance income (costs), income
taxes, share-based compensation, impairment expenses, foreign
exchange gains or losses and gains or losses on sale of
subsidiaries.
We believe that EBITDA and Adjusted EBITDA are useful metrics
for investors to understand and evaluate our operating results and
ongoing profitability because it permits investors to evaluate our
recurring profitability from our ongoing operating activities.
EBITDA and Adjusted EBITDA have certain limitations, and you
should not consider them in isolation or as a substitute for
analysis of our results of operations as reported under IFRS. We
caution investors that amounts presented in accordance with our
definition of EBITDA and Adjusted EBITDA may not be comparable to
similar measures disclosed by other issuers, because some issuers
calculate EBITDA and Adjusted EBITDA differently or not at all,
limiting their usefulness as direct comparative measures.
Table
4
|
Babylon Holdings
Limited
|
Reconciliation of
IFRS Loss for the Period to EBITDA and Adjusted
EBITDA
|
(In thousands,
unaudited)
|
|
|
|
Six Months Ended
June 30,
|
|
|
2021
|
|
2020
|
Loss for the
period
|
|
(75,722)
|
|
(90,813)
|
Add:
|
|
|
|
|
Depreciation and
amortization expenses
|
|
13,322
|
|
6,459
|
Finance costs and
income
|
|
2,215
|
|
2,563
|
Tax (benefit) /
provision on loss
|
|
(2,493)
|
|
2,937
|
EBITDA
|
|
(62,678)
|
|
(78,854)
|
Share-based
compensation
|
|
12,344
|
|
433
|
Impairment
expense
|
|
-
|
|
32
|
Exchange
loss
|
|
91
|
|
2,146
|
Gain on sale of
subsidiary
|
|
(3,917)
|
|
-
|
Adjusted
EBITDA
|
|
(54,160)
|
|
(76,243)
|
Additional Information and Where to Find It
In connection with the proposed business combination between
Alkuri Global Acquisition Corp. ("Alkuri Global") and Babylon
Holdings Limited ("Babylon") and
the other parties to the Merger Agreement dated June 3, 2021 (the "Merger Agreement"),
Babylon filed a registration
statement on Form F-4 dated July 2,
2021 (the "Registration Statement") with the U.S. Securities
and Exchange Commission (the "SEC") with respect to Babylon's securities to be issued in
connection with the proposed business combination (File No.
333-257694), and Alkuri Global intends to file a preliminary proxy
statement in connection with Alkuri Global's solicitation of
proxies for the vote by Alkuri Global's stockholders in connection
with the proposed business combination and other matters as
described in the proxy statement, as well as the preliminary
prospectus relating to the offer of the securities to be issued to
Alkuri Global's stockholders in connection with the completion of
the business combination. After the Registration Statement is
declared effective, Alkuri Global shall mail a definitive proxy
statement and other relevant documents to its stockholders as of
the record date established for voting on the proposed business
combination. Alkuri Global's stockholders and other interested
persons are advised to read the Registration Statement and any
amendments thereto and, once available, the definitive proxy
statement/consent solicitation/prospectus, in connection with
Alkuri Global's solicitation of proxies for its special meeting of
stockholders to be held to approve, among other things, the
proposed business combination (the "Special Meeting"), because
these documents will contain important information about Alkuri
Global, Babylon and the proposed
business combination.
Alkuri Global's stockholders may also obtain a copy of the
preliminary proxy statement/prospectus, or definitive proxy
statement/prospectus once available, as well as other documents
filed with the SEC regarding the proposed business combination and
other documents filed with the SEC by Alkuri Global, without
charge, at the SEC's website located at www.sec.gov or by directing
a request to: Alkuri Global Acquisition Corp., 4235 Hillsboro Pike,
Suite 300, Nashville, TN 37215,
Attention: Secretary, (615) 632-0303.
Participants in Solicitation
Alkuri Global, Babylon, and
their respective directors and officers may be deemed participants
in the solicitation of proxies of Alkuri Global stockholders in
connection with the proposed business combination. Alkuri Global
stockholders and other interested persons may obtain, without
charge, more detailed information regarding the directors and
officers of Alkuri Global in Alkuri Global's registration statement
on Form S-1 (File No. 333-251832), which was declared effective by
the SEC on February 4, 2021.
Information regarding the persons who may, under SEC rules, be
deemed participants in the solicitation of proxies to Alkuri Global
stockholders in connection with the proposed business combination
and other matters to be voted upon at its Special Meeting will be
set forth in the proxy statement/prospectus for the proposed
business combination when available. Additional information
regarding the interests of participants in the solicitation of
proxies in connection with the proposed business combination will
be included in the Registration Statement that Babylon intends to file with the SEC.
Forward-Looking Statements
This communication contains, and certain oral statements made by
representatives of Babylon and
Alkuri Global and their respective affiliates, from time to time
may contain, a number of "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements generally relate to future events or our
future financial or operating performance. When used in this
communication, the words "estimates," "projected," "expects,"
"anticipates," "forecasts," "plans," "intends," "believes,"
"seeks," "may," "will," "should," "future," "propose" and
variations of these words or similar expressions (or the negative
versions of such words or expressions) are intended to identify
forward-looking statements. These forward-looking statements
include, without limitation, information concerning Babylon's or Alkuri Global's possible or
assumed future results of operations, business strategies, debt
levels, competitive position, industry environment, potential
growth opportunities, Babylon's
and Alkuri Global's expectations with respect to the future
performance of the combined company, including whether this
proposed business combination will generate returns for
stockholder, the anticipated addressable market for the combined
company, the satisfaction of the closing conditions to the business
combination, and the timing of the transaction.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside Babylon's or Alkuri Global's management's
control, that could cause actual results to differ materially from
the results discussed in the forward-looking statements. These
risks, uncertainties, assumptions and other important factors
include, but are not limited to: (a) the occurrence of any event,
change or other circumstances that could give rise to the
termination of the Merger Agreement and the proposed business
combination contemplated thereby; (b) the inability to complete the
proposed business combination due to the failure to obtain approval
of the stockholders of Alkuri Global or other conditions to closing
in the Merger Agreement; (c) the ability to meet Nasdaq's listing
standards following the consummation of the proposed business
combination; (d) the failure of investors in the PIPE to fund their
commitments upon the closing of the proposed business combination;
(e) the risk that the proposed business combination disrupts
current plans and operations of Babylon or its subsidiaries as a
result of the announcement and consummation of the transactions
described herein; (f) the ability to recognize the anticipated
benefits of the proposed business combination, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its
management and key employees; (g) costs related to the proposed
business combination; (h) changes in applicable laws or
regulations, including legal or regulatory developments (such as
the SEC's recently released statement on accounting and reporting
considerations for warrants in SPACs) which could result in the
need for Alkuri Global to restate its historical financial
statements and cause unforeseen delays in the timing of the
business combination and negatively impact the trading price of
Alkuri Global's securities and the attractiveness of the business
combination to investors; (i) the possibility that Babylon may be
adversely affected by other economic, business and/or competitive
factors; and (j) other risks and uncertainties to be identified in
the registration/proxy statement relating to the business
combination, when available, and in other documents filed or to be
filed with the SEC by Alkuri Global and Babylon and available at
the SEC's website at www.sec.gov.
Babylon and Alkuri Global
caution that the foregoing list of factors is not exclusive, and
caution readers not to place undue reliance upon any
forward-looking statements, which speak only as of the date made.
Except as required by law, neither Alkuri Global nor Babylon undertakes any obligation to update or
revise its forward-looking statements to reflect events or
circumstances after the date of this release.
No Offer or Solicitations
This communication is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities pursuant to the proposed business combination or
otherwise, nor shall there be any sale of securities in any
jurisdiction in which the offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. No offer of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended.
No Assurances
There can be no assurance that the proposed business combination
will be completed, nor can there be any assurance, if the proposed
business combination is completed, that the potential benefits of
combining the companies will be realized.
Contacts:
Media
Adam Davison
press@babylonhealth.com
Investors
Kathy
Kress
investors@babylonhealth.com